US-based franchise operator Flynn Group has expanded its portfolio by acquiring a total of 83 Wendy’s franchise outlets across New Jersey and Pennsylvania.
This move brings Flynn Group’s network of Wendy’s franchise outlets to 277.
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Citing Flynn Group CEO Greg Flynn, Reuters reported that the transaction was completed on 15 August 2024.
The deal now positions the San Francisco-based Flynn as one of the largest Wendy’s franchisees in the US, now owning nearly one in every 20 locations of the burger chain.
The terms of the acquisition and the identity of the seller remain undisclosed.
Flynn Group first became a Wendy’s franchisee in 2021, following the acquisition of 194 Wendy’s as well as 937 Pizza Hut outlets from a bankrupt operator NPC International in a deal worth $552.6m, QSR noted.
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By GlobalDataInitially, Wendy’s had reservations about Flynn’s entry due to the group’s ownership of competing restaurant brands, including Arby’s and Panera Bread.
Wendy’s, which is headquartered in Columbus, Ohio, reported a modest increase in same-store sales of 0.6% in its US locations and 2.5% internationally in the most recent quarter, as disclosed on 1 August.
Despite the modest growth, Flynn Group continues to see potential in the Wendy’s brand.
The group features around $5bn in annual sales and operates over 2,900 franchise units across a diverse range of foodservice and fitness brands.
Greg Flynn said: “The resilience and strength of the brand, and the foresight and strategy put forth by [Wendy’s] leadership, is unmatched.
“We could not be prouder to continue to grow and scale with Wendy’s both internationally and domestically, especially now here in the Northeast.”
Apart from the recent acquisition, Flynn Group has also expanded its position in international markets.
Last year, the company became the sole franchisee for Wendy’s in Australia, with plans to develop 200 restaurants over the next ten years.
Furthermore, in May 2024, Flynn Group acquired the New Zealand franchise of Wendy’s, demonstrating its commitment to expanding the Wendy’s brand globally.
